The office's Resource and Energy Quarterly outlines the government's forecasts for the future of the resource and energy sector and this time, contains a special section looking at the battery minerals market.
Global lithium demand is expected to rise from 149,000t lithium carbonate equivalent to 1.3 million tonnes LCE in 2027 with 90% of the growth driven by electric vehicles.
Australia has structural advantages to cash in on this growth because it can mine spodumene at a 10% to 15% cost advantage over brine producers.
By next year Australia is expected to account for 80% of the world's supply from hard rock deposits.
Lithium hydroxide will account for 25% of lithium compounds used in batteries by 2021 and that is predicted to rise to more than 60% in...